According to FINRA reports, Jason M. Cruciani (CRD# 4014764) was been permanently barred from the securities industry in February 2014 by FINRA for failing to respond to FINRA requests for information.

Jason Cruciani has a expansive history of 11 customer complaints over the course of his 11 years in the securities industry. During those 11 years, Mr. Cruciani was employed by 8 different brokerage firms, most recently by Scottsdale Capital Advisors Corp.

Jason Cruciani currently has 3 pending customer complaints dating from October 2013 to November 2015. The complaints range from alleged unsuitable recommendations of investment products, fraudulent and negligent misrepresentation, speculative trading of securities and churning.

Stockbrokers like Jason Cruciani have a regulatory obligation to only recommend or engage in transactions that are suitable for their customers and to ensure that any recommendation to purchase investment products are suitable for the needs of each customer. Moreover, they also have an obligation not to excessively trade their customer accounts. If there is too much trading in a customer account, this excessive trading might be considered a type of stockbroker misconduct called “churning”. Churning occurs when a broker engages in excessive buying and selling in a customer’s account to generate commissions that solely benefit the broker. Frequent in-and-out purchases and sales of securities that don’t appear necessary to fulfill the customer’s investment goals may be evidence of churning.

In addition, brokerage firms like the firms that Jason Cruciani was registered with have a regulatory duty to strictly supervise stockbrokers. In cases where a stockbroker sells securities that are not suitable for their customers, the brokerage firm itself may be held liable for the losses the investors suffer. As a result, investors who lost money with stockbroker Jason Cruciani may be able to recover their investment losses through FINRA arbitration.

If you are an investor who has suffered losses investing Jason M. Cruciani, you may be able to recover your losses through FINRA arbitration or securities litigation. Please call Kons Law Firm at (312) 757-2272 for a FREE, NO OBLIGATION consultation to discuss your investment loss recovery options.

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